Kayne Anderson BDC, Inc. (NYSE:KBDC) Short Interest Up 127.0% in December

Kayne Anderson BDC, Inc. (NYSE:KBDC) saw a significant growth in short interest in December. As of December 31st, there was short interest totalling 52,200 shares, a growth of 127.0% from the December 15th total of 23,000 shares. Based on an average daily volume of 65,700 shares, the short-interest ratio is presently 0.8 days. Approximately 0.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada lifted their price objective on Kayne Anderson BDC from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $17.30.

Insider Buying and Selling at Kayne Anderson BDC

In related news, Director Susan C. Schnabel purchased 2,500 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was bought at an average price of $16.54 per share, with a total value of $41,350.00. Following the completion of the transaction, the director now owns 8,087 shares of the company’s stock, valued at approximately $133,758.98. This represents a 44.75 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Kayne Anderson BDC

Large investors have recently added to or reduced their stakes in the business. Confluence Investment Management LLC raised its stake in Kayne Anderson BDC by 5.9% during the fourth quarter. Confluence Investment Management LLC now owns 109,957 shares of the company’s stock worth $1,819,000 after purchasing an additional 6,169 shares during the period. Franklin Resources Inc. increased its holdings in shares of Kayne Anderson BDC by 21.1% during the 3rd quarter. Franklin Resources Inc. now owns 64,680 shares of the company’s stock worth $1,033,000 after buying an additional 11,289 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Kayne Anderson BDC in the third quarter valued at $44,000.

Kayne Anderson BDC Price Performance

KBDC traded up $0.13 during trading on Tuesday, hitting $16.65. The company’s stock had a trading volume of 51,860 shares, compared to its average volume of 88,145. Kayne Anderson BDC has a twelve month low of $15.69 and a twelve month high of $17.22. The firm’s 50 day moving average price is $16.65 and its 200-day moving average price is $16.31. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.66.

Kayne Anderson BDC Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.40 dividend. This is a positive change from Kayne Anderson BDC’s previous quarterly dividend of $0.10. This represents a $1.60 annualized dividend and a yield of 9.61%. The ex-dividend date of this dividend is Tuesday, December 31st.

About Kayne Anderson BDC

Kayne Anderson BDC Inc is a business development company which invests primarily in first lien senior secured loans, with a secondary focus on unitranche and split-lien loans to middle market companies. Kayne Anderson BDC Inc is based in CHICAGO.